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Illinois General (Financial) Power of Attorney

An Illinois general power of attorney lets an individual grant personal financial authority to another person who will make decisions on their behalf.  Many people put a power of attorney in place when they need someone to make financial decisions while they are away. It remains valid until it is revoked or the principal becomes incapacitated.
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Updated August 20, 2024

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Laws

  • Durable – A power of attorney remains effective until the Principal’s death unless it states an earlier termination date.[1]
  • Incapacity – Means any person who has been deemed incapacitated by a physician or any person who is incapable of making decisions on their own behalf due to mental disability, physical illness or disability, chronic use of drugs, chronic intoxication, or fetal alcohol syndrome.[2][3]
  • Signing Requirements – Signatures of the Principal and one Witness must be notarized.[4]

Sources

  1. 755 ILCS 45/2-5
  2. 755 ILCS 45/2-3(c5)
  3. 755 ILCS 5/11a-2
  4. 755 ILCS 45/3-3(f)